Commonwealth Consolidated Acts

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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 214.55

Later amendments--failure to make proper disclosure

                   If:

                     (a)  the entity does not make a full and true disclosure to the Commissioner of the information necessary for a franking assessment for the entity for the balancing period; and

                     (b)  in making the assessment, the Commissioner makes an under-assessment; and

                     (c)  the Commissioner is not of the opinion that the under-assessment is due to fraud or evasion;

the Commissioner may amend the assessment at any time during the period of 6 years after the original franking assessment day.



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